Memecoins Captured Almost a Third of Crypto Market Interest in 2024: CoinGecko

Crypto investors were heavily drawn to meme assets in 2024, according to a new study.

Crypto investors were heavily drawn to meme assets in 2024, with the majority of crypto interest hitting the memecoin sector, which expanded from dog-themed tokens to other animal and personality-themed digital assets, a new study has found.

CoinGecko, in its 2024 crypto narrative overview, noted that the most popular crypto narrative was the memecoin narrative, which captured a combined 30.67% of global investor interest. This was followed by the AI narrative, which captured 14.33% of interest.

“The most popular crypto narrative in 2024 was by far the memecoin narrative, which captured a combined 30.67% of global investor interest across the main memecoin narrative and 25 memecoin trends,” the report stated, adding that almost a third of crypto narrative interest was focused on more speculative opportunities.

“In 2024, the memecoin narrative continued to dominate crypto narratives, with almost a third of crypto narrative interest focused on more speculative opportunities, a trend that began last year with dog-related memecoins, expanding this year to other animal-and personality-themed memecoins.”

The main memecoin narrative ranked 1st with a 14.36% share of crypto narrative interest, up from 8.32% last year. Notably, smart contract platform Solana (SOL) – known for being rife with memecoin activity – also drew a significant amount of trader interest in 2024, as did Base, the blockchain of top US-based crypto exchange Coinbase.

“Solana-related narratives captured a combined 14.30% share of investor interest, putting it close behind the AI narrative in terms of popularity,” the report noted, adding that Solana memecoins drove almost half of attention towards the chain.

“However, investors were also interested in the broader Solana ecosystem, which ranked as the 5th most popular narrative with 5.78% of investor interest, and the Solana NFT narrative, which ranked 13th with a 2.61% share of interest.”

Two Base-related narratives also entered the top 20 rankings this year, on the back of the chain’s strengthening popularity, the report added. Altogether, the Base ecosystem and the Base memecoins narratives accounted for 4.87% of investor interest.

SOL is trading at $199 at time of writing.